Ultra Petroleum Corp. Chief Executive Officer Mike Watford is retiring from the natural gas driller he led for almost 20 years as part of an activist investor-led shakeup that also dethroned two directors.
Watford, who also serves as chairman, will retire on Feb. 28, Ultra said in a statement on Jan. 30. Senior Vice President of Operations Brad Johnson will replace Watford on an interim basis.
Watford’s downfall began in September when Ultra shareholder Fir Tree Partners announced plans to explore “strategic alternatives” for the Houston-based gas producer. After emerging from bankruptcy in early 2017, Ultra struggled and its stock ...
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